Small businesses in Somaliland play a critical role in the economy through job creation, economic growth, community support, promote economic resilience and lastly provide unique products and services to the markets.
Barwaaqo SACCO’s SBO Stream is designed to expand access to finance to the underserved small business owners within Somaliland in order to expand their enterprises and create more jobs while deepening the resilience of the national economy.
Those who subscribe to Barwaaqo SACCO’s SBO Stream will have to save $30 each month of the calendar year in order to enjoy below benefits
Why join Barwaaqo SACCO’s SBO Stream
Access to affordable Finance of five times of savings
Annual dividends on Share Capital
Group guarantee system
Emergency, interest-free loan advance of up to 20% of one’s savings
Room for daily saving of $1 a day
Who can join Barwaaqo SACCO’s SBO Stream
Somaliland citizen, or foreign individual with legal stay permit
Own an existing small business
Business older than one year of existence
Declares source of halal income
Has record of good conduct
Meets and maintains Barwaaqo SACCO’s membership requirements, adheres to its constitution and subsequent procedures
